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What is the relationship between rising house prices and rising work permits in Ireland?

Is the rising work permit the main reason why house prices are not falling in Ireland? Those who come here after getting jobs from foreign countries continue to look for houses for accommodation and so on. Hundreds of people seek accommodation every day in areas including Dublin.

Despite the fact that hundreds of people left the country during the Pandemic period, Ireland, unlike other countries, saw an unprecedented growth in the number of job seekers coming from abroad. Accordingly, the demand in the housing market will increase.

The scarcity of houses is a phenomenon here so the owners can sell and rent what they have at a good price. Last year’s work permit figures validate this.

Despite restrictions on travel and employment due to the COVID-19 pandemic, more than 16,000 work permits were issued to outsiders in the European Economic Area (EEA) by 2020. This is the highest number of permits issued since the issuance of work permits.

Social media, IT, healthcare, pharmaceuticals and meat production were the major sectors that found employees overseas during this period. One-third of work permits issued last year were issued by health workers. About 5,000 people came from outside the EEA. The IT sector is second with 4700 permits. One-third of the total work permits issued last year were from India. A total of 5800 permits were issued to Indians.

1800 Brazilians and more than 1000 Palestinian workers received work permits. Amazon, Accenture, Facebook, Google and Dawn Meats are some of the largest companies that use these work permits. Dawn Meats is one of the largest meat processing companies in Ireland. A total of 1,700 permits were issued last April, despite the pandemic. Hospitals and other health care facilities were in great demand for medical staff during this time.

Although work permits have historically been very high, the process of obtaining a work permit has not been easy. To issue a permit to a worker, you must first pass a Labour Market Needs Test and qualify for a company or organization that is authorized to hire workers outside the EEA. To do so, the company must liaise with the Department of Labor and Social Security for at least four weeks.

In addition, there are nine different types of work permits. Each of these different types of permits has specific requirements. Even after obtaining a work permit, they are not permanent and can last up to two years and can be renewed for another three years.

Experts say more work permits are needed to fill job vacancies within the EEA as the pandemic continues into 2021. The Department of Enterprises had said in a statement yesterday that the propaganda that work permits were not issued within the stipulated period was false.

However, more than a thousand work permit applications have been received in the first quarter of this year. If all of this is allowed to take place, further delays in the start of construction in the housing sector, including in Dublin, may result in lower housing prices and demand.

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